Fresh ₹707 Crore Orders Power Saatvik Green Energy to New Peak, Boosting Investor Confidence
Shares of Saatvik Green Energy Ltd continued their strong market debut rally, climbing over 5% to touch an all-time high of ₹483 per share on Wednesday, October 8th. The surge came after the newly listed renewable energy company announced two major order wins totalling ₹707.62 crore, strengthening its position in India’s fast-growing solar manufacturing sector.
At around 10:20 AM, the stock was trading at ₹474 apiece on the National Stock Exchange (NSE), up over 3% from the previous session’s close. On the BSE, it was seen at ₹470.85, higher by ₹10.55 or 2.29%. With this rally, the company’s market capitalisation has climbed close to ₹6,000 crore, reflecting sustained investor optimism. (moneycontrol).
But what is fuelling this growth? Let’s decode.
New Orders Fuelling Growth
Saatvik Green Energy’s subsidiary, Saatvik Solar Industries, received two significant orders from leading independent power producers (IPPs) and engineering, procurement, and construction (EPC) players.
The first order, worth ₹219.62 crore, comes from three renowned IPPs and EPC firms for the supply of solar photovoltaic (PV) modules. The second, larger order, amounts to ₹488 crore, also for the supply of solar PV modules to major clients in the renewable space.
Both orders are scheduled for execution in FY26, signalling a healthy pipeline that will contribute meaningfully to the company’s revenue visibility over the next financial year. Saatvik Green confirmed these developments in a regulatory filing, stating that the fresh contracts reaffirm the company’s strong industry relationships and execution capabilities.
How Has the Market Reacted Since Its Listing?
Since its listing on September 25, the stock has found quiet favour amongst investors. Over the last five sessions alone, the shares have gained nearly 10%, making it one of the top performers in the renewable energy segment.
Saatvik’s initial public offering (IPO) was a hit with investors, garnering 6.57 times subscription. The company received bids for over 93.8 million shares against the 14.27 million shares on offer, according to data from the NSE. (Mint)
The ₹900 crore IPO comprised a fresh issue of equity shares worth ₹700 crore and an offer for sale (OFS) of ₹200 crore by promoters Parmod Kumar and Sunila Garg. Ahead of the IPO, the firm raised ₹269.4 crore from anchor investors, including some of the biggest names in Indian finance such as HDFC Mutual Fund, Bandhan Mutual Fund, Nippon India Mutual Fund, and SBI General Insurance. (Economic Times)
Earlier this year, the company secured a ₹1,500 crore contract to supply 1 GW of N-TOPCon type solar PV modules. The company also won a notable contract in Maharashtra - a ₹302 crore order to supply 200 MW of N-TOPCon 580Wp modules. (ETEnergyWorld)
This strong order book and institutional participation signalled early confidence in Saatvik’s business model and long-term growth potential.
How Is Saatvik Positioned in India’s Renewable Energy Landscape?
Saatvik Green Energy is a Haryana-based company and is among the top solar photovoltaic (PV) module manufacturers in India with end-to-end solutions such as engineering, procurement, and construction (EPC) solutions for roof-top as well as ground-mount solar systems.
What Sets Saatvik Apart in the Solar Race?
As of June 2025, Saatvik has nearly 3.8 gigawatt (GW) capacity at three manufacturing units in Haryana. Saatvik is expanding rapidly with plans for installing 5 GW of module capacity and 4.8 GW of solar cell capacity at a new plant in Odisha.
This reverse integration drive towards cell manufacturing will further consolidate its supply chain, reduce import reliance, and boost margins. It also keeps pace with India's larger push for self-reliance in renewables production under initiatives like 'Make in India' and 'Atmanirbhar Bharat'.
What Lies Ahead for Investors?
Saatvik Green Energy's board of directors will meet on 8th October 2025, to approve and consider the standalone as well as consolidated unaudited financial results for the quarter ended June 30, 2025. The market will closely watch this announcement to get information regarding margins, order book expansion, and execution timeline.
The new orders combined with the company's robust operating platform has set Saatvik up for long-term growth. The massive demand for Indian solar modules led by expanding clean energy ambitions, corporate sustainability initiatives, and favourable policy measures give a robust tailwind to the likes of Saatvik manufacturers. (Economic Times)
The advantage of being a manufacturer and an EPC services company provides it with flexibility and competitiveness in an industry where supply chains are still fractured.
Yet the upcoming quarters will be crucial - can the company sustain its steller performance and deliver on execution as strongly as it has on intent?
Sources
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